BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:bc6ee4a90f879709eb17cc11d44a05ac
CATEGORIES:Seminars
CREATED:20170421T181510
SUMMARY:Lunch Seminar: Emanuele Tarantino - University of Mannheim
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Learning When to Quit</strong></p><
 p style="text-align: justify;">Abstract:<br /> We propose a model of resear
 ch and development as a process of experimentation in which researchers rep
 eatedly revise specifications of a project and update their beliefs about t
 he project’s type. Only a good project whose type is learned by researchers
  can generate value. Researchers abandon a project when the opportunity cos
 ts of continuing exceed the expected benefits. We estimate the structural p
 arameters of this dynamic optimization problem using a novel data set with 
 information on both successful and abandoned projects from the Internet Eng
 ineering Task Force (IETF), an organization that creates and maintains stan
 dards necessary for the functioning of the internet. The structural approac
 h allows us to recover researchers’ unobserved beliefs and opportunity cost
 s, and answer questions about whether specific rules and institutions encou
 rage “efficient abandonment” of ongoing projects. We find that opportunity 
 costs are decreasing over time and feedback and comments from the IETF comm
 unity at large increase the speed at which developers learn whether a proje
 ct is worth pursuing.</p>
DTSTAMP:20260406T114940Z
DTSTART:20161116T130000Z
DTEND:20161116T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR